Inertial Measurement Unit (IMU) Market Growth Analysis & Forecast to 2022

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Inertial Measurement Unit (IMU) Market Growth
Analysis Forecast to 2022
The report "Inertial Measurement Unit (IMU)
Market by Grade (Marine, Navigation, Tactical,
Space, Commercial), Technology (RLG, FOG, MEMS),
Application (Consumer Electronics, Aircraft,
Missile, Marine, UAV, UGV, UMV), Component, and
Region - Global Forecast to 2022", The inertial
measurement unit market is projected to grow
from an estimated USD 16.46 Billion in 2017 to
USD 21.74 Billion by 2022, at a CAGR of 5.72
during the forecast period. Increasing demand for
accuracy in navigation, high volume production
of smartphones, and availability of miniaturized
components at affordable prices are some of the
key factors driving the inertial measurement unit
market. Get 10 Free Customization
_at_ https//www.marketsandmarkets.com/requestCustomi
zationNew.asp?id148851976 Based on application,
the space launch vehicle segment is estimated to
be the fastest-growing application segment
during the forecast period. The space launch
vehicle segment is estimated to be the
fastest-growing application segment in the
inertial measurement unit market during the
forecast period. This growth is attributed to an
increase in satellite launches and increasing
space research and exploration activities. Commerc
ial grade inertial measurement units include
consumer grade inertial measurement units and
enterprise grade inertial measurement units.
Consumer grade inertial measurement units are
used for low-end applications such as phones,
tablets, automobile airbag systems, etc. while
enterprise grade inertial measurement units are
used in small UAVs. The growth of the commercial
grade segment can be attributed to the
widespread use of compact MEMS inertial
measurement units in consumer electronic
products as well as automotive and industrial
applications. Based on technology, the MEMS
segment held the largest market share in 2016.
The large share can be attributed to
technological advancements in MEMS that are
resulting in its increased applicability in small
aircraft and unmanned applications. Asia Pacific
is estimated to be the fastest-growing market
during the forecast period. The growth is largely
due to an increase in defense budgets of
emerging countries such as India and China the
backing provided by these countries to develop
homegrown technologies for the manufacture of
missiles, fighter aircraft, and UAVs and rise
in the number of commercial aircraft
manufacturers in the region. Major players
operating in the inertial measurement unit market
include Honeywell (US), Northrop Grumman (US),
Safran Electronics Defense (France), Bosch
(Germany), and STMicroelectronics (Switzerland).
These key players offer inertial measurement
units based on various technologies such as
MEMS, Ring Laser Gyro (RLG), and Fiber Optics
Gyro (FOG). These companies have well-equipped
manufacturing facilities and strong distribution
networks across North America, Europe, and Asia
Pacific.
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